Click on the titles below to expand the information about each abstract.
Viewing 1 results ...
Akinradewo, O I, Aigbavboa, C O and Oke, A E (2020) Improving accuracy of road projects’ estimates in the Ghanaian construction industry. Journal of Financial Management of Property and Construction , 25(03), 407–21.
- Type: Journal Article
- Keywords: Construction industry; Estimation; Ghana; Project performance; Cost planning;
- ISBN/ISSN: 1366-4387
- URL: https://doi.org/10.1108/JFMPC-11-2019-0087
The inaccuracy of preliminary estimates sometimes results in wasted development effort if the project is abandoned. To curb this menace, this study aims to assess the different measures to improve the accuracy of road project estimates.
Design/methodology/approachQuantitative research design was used for this study, and questionnaire was designed to retrieve data from the target population. Engineers and quantity surveyors in Accra, Ghana formed the target population and were contacted by using an e-questionnaire through their professional bodies owing to location constraints. Descriptive and exploratory factor analyses were used in analysing the retrieved data. Mann–Whitney U non-parametric test was also used to compare the opinions of the respondents. FindingsThe study revealed that factors categorised as due diligence by estimator should be given more attention for accuracy of estimates to be improved. Research limitations/implicationsThis study was limited to Accra, Ghana owing to time and distance constraint. Practical implicationsProper consideration must be given to preliminary site investigation when preparing the estimates for road projects. This will provide the estimator with information on the physical features of the project environment. Originality/valueDefined clusters of measures to improve estimate accuracy as highlighted in this study rather than merely ranked variables which are done by previous research studies will set the tone and provide insights for effective stakeholders’ actions. The study also bridges the gap between theory and practice by outlining how the findings can be implemented practically to achieve more accurate preliminary estimate for road projects. With efforts aligned with the core characteristics of each cluster, accuracy can be improved.